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FreemarketMike

NQ to retrace to lower support, for huge buying opportunity!

Short
E-mini Nasdaq-100 Futures (Sep 2020) (CME_MINI:NQU2020)  
FreemarketMike Updated   
CME_MINI:NQU2020   E-mini Nasdaq-100 Futures (Sep 2020)
Support and Resistance Fibonacci Trend Lines
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supportandresistance fibonacci trendline
NQU2020 MNQU2020 NQ touched the top of the channel 6 times since May, and has dropped back to lower support relatively quickly. Expect to drop to 11460, then rocket back up to the next fib level of 12789, a $26,000 opportunity.
Trade closed: target reached:
Target reached, and then some. Will have to see if NQ continues this down-trend, or rebounds back into the 2020 channel as we lead up to the election.
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